Charles Leclerc is on the brink of signing a new five-year extension with Ferrari, marking a significant step in his F1 career.
Charles Leclerc, the 26-year-old racing star from Monaco, is reportedly close to finalising a major contract renewal with Ferrari. This new deal, as detailed by Italy’s La Gazzetta dello Sport, includes a substantial pay increase, potentially reaching nearly €50 million a year by the contract’s end.
Currently, Leclerc’s earnings are estimated at about €25 million per season. The proposed contract is designed to incrementally boost his salary each year. This agreement would elevate Leclerc’s financial standing to a level comparable with Max Verstappen, the three-time world champion from Red Bull, in terms of earnings.
Leclerc’s current contract with Ferrari is set to expire at the conclusion of 2024. Both Leclerc and Ferrari are eager to finalise the new terms, with Ferrari particularly intent on securing Leclerc’s commitment to preclude interest from rival teams, including Mercedes.
La Gazzetta dello Sport also reports that the forthcoming agreement, expected to be announced soon, will incorporate clauses tied to performance. One notable aspect is a break clause, allowing Leclerc the option to exit the contract with Ferrari after three years, should the Maranello-based team fail to remain competitive.
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